Hasbro (NASDAQ:HAS) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Hasbro (NASDAQ:HAS) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

Several other equities analysts also recently weighed in on HAS. Roth Mkm set a $120.00 target price on shares of Hasbro in a report on Wednesday, February 11th. JPMorgan Chase & Co. raised their target price on shares of Hasbro from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. The Goldman Sachs Group raised their target price on shares of Hasbro from $88.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group raised their target price on shares of Hasbro from $95.00 to $112.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Citigroup raised their price target on shares of Hasbro from $97.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.14.

Hasbro Stock Performance

NASDAQ:HAS opened at $95.25 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.24 and a debt-to-equity ratio of 4.59. The firm has a 50-day moving average price of $93.46 and a two-hundred day moving average price of $88.90. Hasbro has a twelve month low of $64.74 and a twelve month high of $106.98. The company has a market capitalization of $13.48 billion, a P/E ratio of -40.53, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52.

Hasbro (NASDAQ:HAS) last posted its earnings results on Wednesday, May 20th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.27. Hasbro had a negative net margin of 4.62% and a positive return on equity of 172.27%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $969.20 million. As a group, research analysts expect that Hasbro will post 5.8 earnings per share for the current fiscal year.

Insider Activity

In other Hasbro news, CEO Christian P. Cocks sold 196,411 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $100.33, for a total transaction of $19,705,915.63. Following the sale, the chief executive officer directly owned 303,310 shares of the company’s stock, valued at $30,431,092.30. This trade represents a 39.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hasbro

Several hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Hasbro in the fourth quarter worth approximately $147,748,000. Bank of America Corp DE boosted its position in shares of Hasbro by 128.7% in the second quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock worth $220,089,000 after acquiring an additional 1,677,962 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Hasbro by 47.3% in the fourth quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock worth $357,286,000 after acquiring an additional 1,399,499 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Hasbro by 454.3% in the first quarter. Assenagon Asset Management S.A. now owns 727,407 shares of the company’s stock worth $68,085,000 after acquiring an additional 596,167 shares during the last quarter. Finally, NewEdge Wealth LLC acquired a new stake in shares of Hasbro in the first quarter worth approximately $47,671,000. 91.83% of the stock is owned by institutional investors and hedge funds.

Hasbro Company Profile

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company’s brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.